For which goods or services will the demand be relatively more or relatively less elastic?  Explain your answers clearly.     Cigarettes   High priced sports car such as a Porsche     Diamonds   Tap water   Heinz (a specific soup brand) Soup     Gasoline

Q: Would increasing the minimum wage force business's to lay off workers and result in higher…

A: Minimum wage act: - it ensures the minimum amount of wage for workers. Unemployment: - unemployment…

Q: On the folowing graph, use the green point (triangle symbol) to plot the annual total revenue when…

A: The total revenue is the full amount of revenue earned by the sales. The formula for total revenue…

Q: Suppose Kim has determined that a $100,000 universal life insurance policy would best suit her…

A: Hi! thanks for the question but as per the guidelines, we answer only three parts at one time.…

Q: Being in poverty is really a combination of individual and structural reasons. Compare the…

A: Poverty is a global problem that affects nearly half of the world's population. Its ramifications…

Q: Below is a table of exchange rates and GDPS (Gross Domestic Products) for a variety of imaginary…

A:

Q: The hockey stick of growth shows us O That environmental damage has increased dramatically in the…

A: Hockey stick of growth is pattern which shows the linear growth in initial phases and after some…

Q: Consider an equilibrium of a single product market jointly determined by a supply function q* = a, +…

A: Given information Supply function q*=a0+a1*p*+u Demand function q*=b0+b1*p*+v q*= equilibrium…

Q: 1. Reductions in tax rates and regulation might help reduce both unemployment and inflation, which…

A: 1. The statement is - FALSE

Q: If real GDP in the year 2000 was 100 and the growth rate is 5 per cent per annum what will be the…

A: The formula: Real GDP after n th year=real GDP now *(1+g)n n=years=2100-2000=100 years g=growth rate…

Q: (M&M) sell one size of coffee latte. Medro & Mariana put together the weekly breakeven diagram for…

A: The total revenue from the sale of a particular quantity of products or services is referred to as…

Q: TRUE FALSE. If false CORRECT the wrong word/words An increase in the nominal exchange rate ($ per…

A: The answer for these parts are as follows:-

Q: What aspects & principles characteristic of non-market systems are important in our market economy?

A: A non-market system is an administered price system in which the prices of properties are set by an…

Q: If you were on an island with 10 other people and there were no money, do you think that money would…

A: Money economies and barter economies are the two sorts of economies. Our modern economies are based…

Q: _________ is the process by which an increasingly large proportion of the world’s population lives…

A: Rural area is known as that geographical region that is located outside the cities and town. This…

Q: Kermit is considering purchasing a new computer system. The purchase price is $129,645. Kermit will…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Consider a perfectly competitive market that was in a long-run equilibrium when a permanent increase…

A: In perfectly competitive market there are large number of firms selling identical goods.

Q: Suppose banks require a real interest rate of 12 percent. If they expect inflation to be 3 percent,…

A: A real interest rate is the one which is adjusted for the inflation whereas nominal interest rate…

Q: Calculate the maturity value: Principal (5) 8,000 Term (yrs) 17 Nominal Rate Compound Frequency…

A: Given the present value, PV = 8000 Time = 7 years Compounding periods, n = 7 x 2 = 14 Interest rate…

Q: 18) If the price elasticity of demand is 0.6, then a 10 percent increase in the price of the good…

A: Price elasticity of demand is the ratio of the percentage change in quantity demanded of a product…

Q: Economists who support a hands - off approach believe that a cause of business cycles is O A.…

A: The fluctuation in the economic activity is tracked by the business cycle. In an economy, the fall…

Q: 1.Quantity 2. Pnce 3. TR 4. Cost per unit 5 TC

A: Diagram 1:- Here the point W is where optimum production is being achieved but at this point…

Q: What are the dimensions of mortality

A: The demographic event of death is characterised as mortality. Because death is a biological process…

Q: For an imaginary economy, the value of the consumer price index was 138.57 in 2017, and the…

A: Consumer price index (CPI) is the measure of overall cost of buying market basket by a consumer.…

Q: What are the potential issues with fiscal policy?

A: The use of govt spending and taxation policies to impact economic circumstances, particularly…

Q: Use the figure below to answer the following question. Price Pa Pt Qa Quantity If a price floor in…

A: Price floor is set above the equilibrium where quantity supplied exceeds quantity demanded. So it…

Q: A budget expresses management's objectives and goals in financial terms. It can be used for all of…

A: Budget is the estimation of revenue and expenditure over a specified period of time. It is measured…

Q: $1,000 $980 $960 $940 $920 $900 $880 $860 $840 $820 $800 $780 $760 $740 $720 $700 $0 $50 $100 $150…

A: The price of bond and interest rate are inversely related to each other. It means as the interest…

Q: manufacturer of microwaves has discovered that male shoppers have little value for microwaves and…

A: The current market price of goods or services is factored into the pricing strategy. Pricing…

Q: 6.1. What is an AD-AS model and what does such a model as per the given diagram essentially focus…

A: Since you have asked a multi-part question and according to the policy, we can only solve the first…

Q: What is the major function of general banking operation?

A: When talking about banking operations, it can be said that this market includes the exchange of…

Q: Demand pull inflation and cost push inflation are the two causes of inflation. The government of…

A:

Q: If the surplus on income ratio is only 15%, and the surplus on fund employed is only 26%. Is this…

A: Labor surplus means the surplus of labor in an economy. It means there is more quantity of labor…

Q: (a). If the firm is currently producing 90 units of output at input mix X, which of the following…

A: The isoquant graph shows that the different combinations of inputs yield the same output level to…

Q: Question 15 Prime interest rate refers to the lowest rate charged by bank to their most important…

A: In the loanable funds market or a banking sector, there are different forms of interest rates are…

Q: Which one of the following variables in pro- cylical? (a) the unemployment rate (b) the job-finding…

A: A positive correlation between the value of a good, a service, or an economic indicator and the…

Q: 4) Mitsven Surfboard Inc. is a company in San Diego that shapes and sells surfboards. In 2018 their…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: 4. Profit maximization in the cost-curve diagram Suppose that the market for blenders is a…

A: A perfectly competitive firm is price taker as there are large number of firms selling identical…

Q: Movement from one point to another along an isocost line implies a change in. a. The level of…

A: The isocost line is a downward sloping line and the isocost line equation is of the form of wL+rK= C…

Q: Fill in the blanks using the number that corresponds to the correct word or phrase below 1. Labor…

A: The measure that depicts people who are capable and able to work but not able to find a suitable job…

Q: Leon and Heidi decided to invest $2,500 annually for only the first eight years of their marriage.…

A:

Q: Suppose the barking syslem in country A has 530 zero, the reserve requrement ratio is serves and…

A: The reserve ratio is the portion of reservable liabilities that commercial banks must hold onto,…

Q: Using the following data, solve for the depreciation and book value and prepare tabulation of book…

A: During the useful life of a physical asset, the asset's cost is depreciated using an accounting…

Q: Please explain it briefly and answer it with more then 75 words Why would an international…

A: The answer is as follows:-

Q: Determine the initial amount owed at the beginning of the year if you have to pay P563.83 after 10…

A: Simple interest amount formulaA=P1+R×T100Where, A=AmountP=PrincipalR=Rate of interestand T=Time in…

Q: True of False? In the short run, stock market returns always align with macroeconomic performance…

A: 1. As a general rule, the stock markets in an economy are directly correlated with the GDP of the…

Q: suggest ways on how you can contribute to reduce the effect of inflation

A: The economies, and the nations around the globe are involved in various financial, and economic…

Q: ATC Avc K FOR EACH DAGRAM, FIND R 1.Quantity Hi 2. Prce IN 3. TR 4. Cost per unit 5 TC A 13 E F

A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: If vou imvest # 500 today, it will become you 91000 at Ythe e upel of 4.5 Syears. What is the…

A: The effective interest rate refers to the rate of interest gained on an investment or paid on a loan…

Q: Assume that you are managing an electric utility that must minimize the cost of producing the…

A: Energy consumption is increasing day by day, in order to meet the demand there is a need to focus on…

Q: process for producing the mosquito repellant Deet has an initial investment of $205,000 with annual…

A: The following information is given: Initial investment = $205,000 Annual cost = $53000 Annual income…